What Credit Cards can I get approved for with a 580 credit score

[mrjuggalo9er]

 

 

 

 

Wow. I have NEVER seen anyone stand behind FP.

 

Just wow.

 

Can I have 75 bucks too, I will give you a $500 CL.

 

Beyond help.

 

FMC reincarnated.

It's called " being desperate "

its called being in a rush and not taking the time to educate yourself. What subprime lenders prey on...

 

I could understand if this was a CK forum, where no one knows any better, like that is when I got mine, before CB.

 

The knowledge is here, for him to not open this card, yet he wants it.

 

36 % APR !!!

 

NOT A TYPO

 

 

that equals to 3% each month of balance. If I spend $100 I pay $103

 

 

I dont know about you but i rather pay $75 to get a $500 credit vs putting up my own $500 that they will have on hold for a $500 credit limit (secure card)

 

could not be more true! if you were approved for first premier I would app discover, capitol one, Barclay, and American express...wtg

[cpugeek]

Forget it Jay. Save your breath. Can't save every kitty in the pound.

 

Someone else will come along who wants to learn and you can use that opportunity to pay it forward.

 

What do you propose I do if I desperately need a credit card and I do not have any money for a secured card deposit?

[funkiehouse]

Its just a terrible card with terrible fees and if anything goes wrong you get terrible customer no service. Its a company that takes full advantage of people who have few other options. Its probably their mission statement and it is their business model.

 

People here will tell you of the importance of building positive credit when working on credit repair, but there is a point where your credit is so bad that it's not time to start doing that yet. That point is where banks like Credit One and First Premier feel like the only options for you. If these are the only cards that you can get approved for then the best thing to do is work on collections and put the money you would be willing to give up on the fees for these cards in an account for a few months and then open secured cards while working on the baddies. Three months of patience can get you so much farther than you think you can get by having these cards. I wish I had someone to tell me this before I got both of these cards. I got rid of my FP CO but Credit One is still on my reports for another 2 years.

 

If you get a FP or COB card they should NEVER be used. People get these cards and think if they use it it will help build their credit scores and reports but usage of a card means nothing to your reports and scores. All that matters with these types of cards is reported utilization, not paying interest, not paying high fees, and not conducting wasteful spending. This is one of the many points I try to drill into peoples heads when they go out and get these cards or get a bunch of toy cards just because they can start getting approved for them. At that point they are not ready for B* because they are still repairing their reports and they can't get approvals when they do get them cleaned up because they have 20-30 inquires for all of these crap cards. So yes building positive credit lines is important but what matters the most is when and how you go about doing it.

 

Having a FP or COB card on your reports, even if you have a clean report, screams of a bad credit history.

[funkiehouse]

 

I need it. From my readings most people just dont know the way it works and know, that you have to pay a little to play

 

 

Just remember that you are already paying to play in other ways so its smart to minimize what you are paying where you can, and know that there are other better ways to put your money to work for you. You don't need to pay high fees and blow money to build credit. Paying fees on credit cards should only be done if you are benefiting from it with actual benefits, such as cash back, miles, or points.

[funkiehouse]

 

 

 

 

Wow. I have NEVER seen anyone stand behind FP.

 

Just wow.

 

Can I have 75 bucks too, I will give you a $500 CL.

 

Beyond help.

 

FMC reincarnated.

It's called " being desperate "

its called being in a rush and not taking the time to educate yourself. What subprime lenders prey on...

 

I could understand if this was a CK forum, where no one knows any better, like that is when I got mine, before CB.

 

The knowledge is here, for him to not open this card, yet he wants it.

 

36 % APR !!!

 

NOT A TYPO

 

 

that equals to 3% each month of balance. If I spend $100 I pay $103

 

 

I dont know about you but i rather pay $75 to get a $500 credit vs putting up my own $500 that they will have on hold for a $500 credit limit (secure card)

 

 

You never get that $75 back from FP but with a secured card you do. That's how you invest in yourself and your credit reports, not by throwing money away. You said it yourself that you have to pay to play and that's exactly what your doing when you open a secured card. You just have to make sure you're in the right game.

[cpugeek]

Its just a terrible card with terrible fees and if anything goes wrong you get terrible customer no service. Its a company that takes full advantage of people who have few other options. Its probably their mission statement and it is their business model.

 

People here will tell you of the importance of building positive credit when working on credit repair, but there is a point where your credit is so bad that it's not time to start doing that yet. That point is where banks like Credit One and First Premier feel like the only options for you. If these are the only cards that you can get approved for then the best thing to do is work on collections and put the money you would be willing to give up on the fees for these cards in an account for a few months and then open secured cards while working on the baddies. Three months of patience can get you so much farther than you think you can get by having these cards. I wish I had someone to tell me this before I got both of these cards. I got rid of my FP CO but Credit One is still on my reports for another 2 years.

 

If you get a FP or COB card they should NEVER be used. People get these cards and think if they use it it will help build their credit scores and reports but usage of a card means nothing to your reports and scores. All that matters with these types of cards is reported utilization, not paying interest, not paying high fees, and not conducting wasteful spending. This is one of the many points I try to drill into peoples heads when they go out and get these cards or get a bunch of toy cards just because they can start getting approved for them. At that point they are not ready for B* because they are still repairing their reports and they can't get approvals when they do get them cleaned up because they have 20-30 inquires for all of these crap cards. So yes building positive credit lines is important but what matters the most is when and how you go about doing it.

 

Having a FP or COB card on your reports, even if you have a clean report, screams of a bad credit history.

 

 

NEVER used??? I'm not getting this?

 

 

Thanks everyone

 

and what other cards should I get instead? can you help me with a few good ones probably secured?

Edited December 21, 2014 by cpugeek

[Aahz]

I'm not getting this?

 

 

 

You're absolutely right, you're not getting it.

 

You're like a drowning man who's flailing aorund so much trying to keep his head above water that the lifeguards (read: knowledgeable helpers here) can't get close enough to help. You've started a half dozen threads about numerous problems in the last several days, all looking for a quick solution to a long term problem. And then, before taking the time to listen and learn from people here you're grasping at straws and just making things worse for yourself.

 

My advice...

 

1) STOP APPLYING FOR NEW CREDIT

2) Accept that nothing you can do in the next 10 days is going to be anymore helpful if done immediately then if it's done after the first of the year.

3) Acknowledge to yourself that it was your bad decisions that got you into this mess. So, your decisions are unlikely to help get you out of it unless those decisions are informed by others who have been in the same mess in the past (read: the many helpful posters here at CB).

4) Create a "Please help cpugeek start on the road to healthy credit" or something similar and in the first post lay out your ENTIRE situation (past credit history, current assets and obligations, recent apps, recent car shopping experiences, etc) and your goals, both short term and long term.

5) Continue reading other posts from people seeking help in areas similar to yours. Ask questions in these threads if you don't understand someone's advice, but keep them general. If you must ask specific questions relating directly to your situation take them back to your personal "help" thread.

6) Listen to the advice you are given in your "help" thread and try to formulate a step-by-step plan.

7) Before taking ANY step in that plan, post in your "help" thread and seek input from other members.

8) repeat 5,6 & 7 as necessary

Edited December 21, 2014 by Aahz

[Civiljudgements]

If you are serious about your credit repair and rebuilding journey, you will listen and take the advice of the pros on this forum. I was in the same boat as you just a few months ago. I almost threw my hard earned money at a FP card but listened and learned all that I could from these people. After all, if we already knew "The Game" we wouldn't be here in the first place.

 

At the very least do a search of FP and dedicate a couple of hours to reading those posts. This decision could very well impact your future in a big way. The secured card route is the way to go in the beginning!

 

Good luck, and read.

Edited December 21, 2014 by Civiljudgements

[mendelssohn]

 

 

Forget it Jay. Save your breath. Can't save every kitty in the pound.

 

Someone else will come along who wants to learn and you can use that opportunity to pay it forward.

What do you propose I do if I desperately need a credit card and I do not have any money for a secured card deposit?

Save your money and keep working on the negatives.

 

Having stable finances is one of the keys to long term good credit.

[MarvBear]

Thanks to those who have offered constructive advice to the original poster.

 

Quit trying to gang up on him/her.

 

OP is trying to learn, which becomes very difficult, when being called, in essence, stupid.

 

OP is asking for help, not asking to be judged.

 

Let's get back to the spirit for which this board was intended.

[ManofB]

 

 

Forget it Jay. Save your breath. Can't save every kitty in the pound.

Someone else will come along who wants to learn and you can use that opportunity to pay it forward.

What do you propose I do if I desperately need a credit card and I do not have any money for a secured card deposit?

Save your money and keep working on the negatives.

Having stable finances is one of the keys to long term good credit.

^ this. FICO score doesn't pay the bills.

[JunkBuyersWorstNightmare]

 

 

Go talk to a local credit union. They are great places to get rebuilder cards. Try to find one that graduates to an unsecured card in 12-18 months.

 

Your bigger concern right now should be your collection accounts. You should start a post and see if we can help you get rid of some of those to get your reports looking better so you can get those approvals. What ever you do don't go racking up a bunch of inquires at this stage. It will make it harder to get good cards if we can get rid of the baddies on your reports.

 

Also stay away from First Premier and Credit One Bank.

 

doe! Just got approved and card on the way for first premier

This is the WORST thing you will do credit wise.... Trust me... DO NOT ACTIVATE THAT CARD.... Call and cancel the application.... And I mean ASAP... You will thank me later...

 

 

+1,000.

[Valet]

Makes me wonder how one gets in this situation...

[trap11]

 

Forget it Jay. Save your breath. Can't save every kitty in the pound.

 

Someone else will come along who wants to learn and you can use that opportunity to pay it forward.

 

What do you propose I do if I desperately need a credit card and I do not have any money for a secured card deposit?

 

 

I know that Cap1 will do a secured and let you make payments to build your balance. A friend of mine was approved for 150$, they had to send 50$ within a couple weeks and then send a certain amount each month to get up to the $150. If you used your $75 dollars for the initial deposit and $25 bucks a month for three more months that would be your best option. I am not sure, but I am guessing that the CAP1 card would start reporting the month you apply even if it takes you a few months to get your balance up.

[LKH]

Makes me wonder how one gets in this situation...

All kinds of people are in this situation. It isn't new and there are many, many reasons someone could be in this situation.

[LakersFan]

I was reading your post last night as I just started lurking around in the past few weeks on this forum. After reading your post, I registered to try and tell you what the rest here are saying. The FP is the worst thing you can do. I had that freaking card many years ago and it was a nitghtmare. Most likely before you even get your first bill, you will owe $150.00 for the processing fee and the anual fee that they tack on. You then will be charged a montly fee of $15.00. I know you don't have the funds to get a secured right now, but if you contiuned to use this card, you would have paid hundreds in fees in just the first several months. That money could be used to set up a secured account.

 

Please, Please listen to these guys. Do not activate this card. The odds are that this card will only distroy your credit even more instead of helping it. Eventually it will be just another collection account.

[RussInGotham]

I was reading your post last night as I just started lurking around in the past few weeks on this forum. After reading your post, I registered to try and tell you what the rest here are saying. The FP is the worst thing you can do. I had that freaking card many years ago and it was a nitghtmare. Most likely before you even get your first bill, you will owe $150.00 for the processing fee and the anual fee that they tack on. You then will be charged a montly fee of $15.00. I know you don't have the funds to get a secured right now, but if you contiuned to use this card, you would have paid hundreds in fees in just the first several months. That money could be used to set up a secured account.

 

Please, Please listen to these guys. Do not activate this card. The odds are that this card will only distroy your credit even more instead of helping it. Eventually it will be just another collection account.

 

And $150 isn't far from $200, which is the minimum needed to open a Discover secured card. Discover may not be the favorite card on CB, but it is miles ahead of First Premier.

 

In order to get a Discover secured card, you need to apply for the regular Discover card. Once declined, you may be offered the secured card. I believe that anyone is better off with a $200 secured Discover card than with a First Premiere.

 

No guarantees that Discover will offer the secured card, but I believe that it's worth a shot.

Edited December 21, 2014 by RussInGotham

[trap11]

Not pushing CAP1 here.. but you can do their Prequal and it will show you what you are eligible for. So if you are not eligible for the unsecured it will show you what secured cards you are eligible for. And using the Prequal it's only a soft pull

[johnnychampion]

FP will drain your pockets and then drown you, I'm almost positive you could get a Cap 1 credit steps with your scores, pay only $39.00 AF and 22.99%, vs. FP $75.00 plus "monthly account maintenance fees" and their Annual Percentage Rape....

[trap11]

FP will drain your pockets and then drown you, I'm almost positive you could get a Cap 1 credit steps with your scores, pay only $39.00 AF and 22.99%, vs. FP $75.00 plus "monthly account maintenance fees" and their Annual Percentage Rape....

The first annual fee is waived and you will be able to upgrade to a no annual fee card once the credit steps is over. So it won't cost you anything

[funkiehouse]

 

 

 

 

Wow. I have NEVER seen anyone stand behind FP.

 

Just wow.

 

Can I have 75 bucks too, I will give you a $500 CL.

 

Beyond help.

 

FMC reincarnated.

It's called " being desperate "

its called being in a rush and not taking the time to educate yourself. What subprime lenders prey on...

 

I could understand if this was a CK forum, where no one knows any better, like that is when I got mine, before CB.

 

The knowledge is here, for him to not open this card, yet he wants it.

 

36 % APR !!!

 

NOT A TYPO

 

 

that equals to 3% each month of balance. If I spend $100 I pay $103

 

 

I dont know about you but i rather pay $75 to get a $500 credit vs putting up my own $500 that they will have on hold for a $500 credit limit (secure card)

 

 

Just so others are aware, this card costs you a lot more than $75 a year to have. This is from the terms and conditions from FP's page. If you get this card just be aware of what you are getting and read the entire T&Cs before you apply.

 

• Processing Fee - $75.00 (one-time fee)

• Annual Fee - $75.00 for first year. After that, $45.00 annually.

• Monthly Servicing Fee - None for first year (introductory) After that, $75.00 annually ($6.25 per month).

 

So what this means is:

 

First year: $150 in fees plus interest and what ever other fees you get, possibly from any mistakes or misuse of the card.

 

Second year and beyond: $120 plus interest and what ever other fees you get, possibly from any mistakes or misuse of the card.

 

Other fees to be aware of:

 

Credit Limit Increase Fee: Each time your Credit Account is eligible for and approved for an unsecured credit limit increase, a Credit Limit Increase Fee in the amount of 25% of the amount of the credit limit increase will be assessed to your Credit Account.

 

They also suck people into this which is useless: The monthly fee for the PREMIER Credit Protection is based on your outstanding ending monthly balance multiplied by $0.89 per $100.00. The fee is included on your monthly billing statement.

 

 

There are many better options than this card. Just start a post if you need help figuring out which cards can help you in your situation.

[cpugeek]

 

I'm not getting this?

 

 

 

You're absolutely right, you're not getting it.

 

You're like a drowning man who's flailing aorund so much trying to keep his head above water that the lifeguards (read: knowledgeable helpers here) can't get close enough to help. You've started a half dozen threads about numerous problems in the last several days, all looking for a quick solution to a long term problem. And then, before taking the time to listen and learn from people here you're grasping at straws and just making things worse for yourself.

 

My advice...

 

1) STOP APPLYING FOR NEW CREDIT

2) Accept that nothing you can do in the next 10 days is going to be anymore helpful if done immediately then if it's done after the first of the year.

3) Acknowledge to yourself that it was your bad decisions that got you into this mess. So, your decisions are unlikely to help get you out of it unless those decisions are informed by others who have been in the same mess in the past (read: the many helpful posters here at CB).

4) Create a "Please help cpugeek start on the road to healthy credit" or something similar and in the first post lay out your ENTIRE situation (past credit history, current assets and obligations, recent apps, recent car shopping experiences, etc) and your goals, both short term and long term.

5) Continue reading other posts from people seeking help in areas similar to yours. Ask questions in these threads if you don't understand someone's advice, but keep them general. If you must ask specific questions relating directly to your situation take them back to your personal "help" thread.

6) Listen to the advice you are given in your "help" thread and try to formulate a step-by-step plan.

7) Before taking ANY step in that plan, post in your "help" thread and seek input from other members.

8) repeat 5,6 & 7 as necessary

 

semi thanks lol

 

If you are serious about your credit repair and rebuilding journey, you will listen and take the advice of the pros on this forum. I was in the same boat as you just a few months ago. I almost threw my hard earned money at a FP card but listened and learned all that I could from these people. After all, if we already knew "The Game" we wouldn't be here in the first place.

 

At the very least do a search of FP and dedicate a couple of hours to reading those posts. This decision could very well impact your future in a big way. The secured card route is the way to go in the beginning!

 

Good luck, and read.

 

+1 But which secured cards?

Thanks to those who have offered constructive advice to the original poster.

 

Quit trying to gang up on him/her.

 

OP is trying to learn, which becomes very difficult, when being called, in essence, stupid.

 

OP is asking for help, not asking to be judged.

 

Let's get back to the spirit for which this board was intended.

 

Thanks Marv

I was reading your post last night as I just started lurking around in the past few weeks on this forum. After reading your post, I registered to try and tell you what the rest here are saying. The FP is the worst thing you can do. I had that freaking card many years ago and it was a nitghtmare. Most likely before you even get your first bill, you will owe $150.00 for the processing fee and the anual fee that they tack on. You then will be charged a montly fee of $15.00. I know you don't have the funds to get a secured right now, but if you contiuned to use this card, you would have paid hundreds in fees in just the first several months. That money could be used to set up a secured account.

 

Please, Please listen to these guys. Do not activate this card. The odds are that this card will only distroy your credit even more instead of helping it. Eventually it will be just another collection account.

+1

 

FP will drain your pockets and then drown you, I'm almost positive you could get a Cap 1 credit steps with your scores, pay only $39.00 AF and 22.99%, vs. FP $75.00 plus "monthly account maintenance fees" and their Annual Percentage Rape....

 

 

Truthfully $150 a year will not drain my pockets at all

 

 

So cap 1, is there any other secured cards to apply for

[cpugeek]

never mind

 

cap 1 secure will not even approve me!

 

Capital One® Secured MasterCard

Thank you for submitting an application for a Capital One credit card.

We attempt to provide an application decision in 60 seconds or less. On occasion, system availability affects our ability to make a credit decision or, in some cases, we need to collect additional information. Unfortunately, we need more time to look into this for you.

Keep an eye out for additional details regarding your application via email or mail within 7-10 business days.

Until we contact you, please do not submit another application.

[mendelssohn]

 

 

 

 

I'm not getting this?

 

 

You're absolutely right, you're not getting it.

 

You're like a drowning man who's flailing aorund so much trying to keep his head above water that the lifeguards (read: knowledgeable helpers here) can't get close enough to help. You've started a half dozen threads about numerous problems in the last several days, all looking for a quick solution to a long term problem. And then, before taking the time to listen and learn from people here you're grasping at straws and just making things worse for yourself.

 

My advice...

 

1) STOP APPLYING FOR NEW CREDIT

2) Accept that nothing you can do in the next 10 days is going to be anymore helpful if done immediately then if it's done after the first of the year.

3) Acknowledge to yourself that it was your bad decisions that got you into this mess. So, your decisions are unlikely to help get you out of it unless those decisions are informed by others who have been in the same mess in the past (read: the many helpful posters here at CB).

4) Create a "Please help cpugeek start on the road to healthy credit" or something similar and in the first post lay out your ENTIRE situation (past credit history, current assets and obligations, recent apps, recent car shopping experiences, etc) and your goals, both short term and long term.

5) Continue reading other posts from people seeking help in areas similar to yours. Ask questions in these threads if you don't understand someone's advice, but keep them general. If you must ask specific questions relating directly to your situation take them back to your personal "help" thread.

6) Listen to the advice you are given in your "help" thread and try to formulate a step-by-step plan.

7) Before taking ANY step in that plan, post in your "help" thread and seek input from other members.

8) repeat 5,6 & 7 as necessary

semi thanks lol

If you are serious about your credit repair and rebuilding journey, you will listen and take the advice of the pros on this forum. I was in the same boat as you just a few months ago. I almost threw my hard earned money at a FP card but listened and learned all that I could from these people. After all, if we already knew "The Game" we wouldn't be here in the first place.

 

At the very least do a search of FP and dedicate a couple of hours to reading those posts. This decision could very well impact your future in a big way. The secured card route is the way to go in the beginning!

 

Good luck, and read.

+1 But which secured cards?

Thanks to those who have offered constructive advice to the original poster.

 

Quit trying to gang up on him/her.

 

OP is trying to learn, which becomes very difficult, when being called, in essence, stupid.

 

OP is asking for help, not asking to be judged.

 

Let's get back to the spirit for which this board was intended.

Thanks Marv

I was reading your post last night as I just started lurking around in the past few weeks on this forum. After reading your post, I registered to try and tell you what the rest here are saying. The FP is the worst thing you can do. I had that freaking card many years ago and it was a nitghtmare. Most likely before you even get your first bill, you will owe $150.00 for the processing fee and the anual fee that they tack on. You then will be charged a montly fee of $15.00. I know you don't have the funds to get a secured right now, but if you contiuned to use this card, you would have paid hundreds in fees in just the first several months. That money could be used to set up a secured account.

 

Please, Please listen to these guys. Do not activate this card. The odds are that this card will only distroy your credit even more instead of helping it. Eventually it will be just another collection account.

+1

FP will drain your pockets and then drown you, I'm almost positive you could get a Cap 1 credit steps with your scores, pay only $39.00 AF and 22.99%, vs. FP $75.00 plus "monthly account maintenance fees" and their Annual Percentage Rape....

 

Truthfully $150 a year will not drain my pockets at all

 

 

So cap 1, is there any other secured cards to apply for

There's a whole bunch of secured cards in this thread:

 

http://creditboards.com/forums/index.php?showtopic=500689

 

SDFCU has a great secured card, no AF, no credit check, rewards and starting limits as low as $250.

 

DCU has a great secured card. The minimum is $500 and EQ 580.

 

Both check chex IIRC.

 

There are many more in that thread I linked.

[Civiljudgements]

Do you belong to a local credit union? That would be my first suggestion, if your not a member yet, call around to a few and inquire. Most CU's credit requirements are a lot more relaxed than the big banks. Sit down with them and explain your situation, you may be pleasantly surprised at what you hear. Most will accommodate their members needs to a certain extent.

 

Your scores are not much lower than mine right now and I'm already at $22K in revolving accounts since my journey began this summer. Good luck to you...